Tag: High

Bitcoin rejects $40K as US dollar strength hits 20-year high

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Bitcoin (BTC) made a fresh bid to crack $40,000 on April 28 as Wall Street trading opened to twenty-year highs for U.S. dollar strength. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView DXY now in “parabolic rally” Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting highs of $39,883 on Bitstamp before momentum waned, sending the pair $800 lower hours later. Traders had predicted what they saw as a relief bounce, with the implication that the subsequent rejection would spark continuation of the downtrend. On the day, caution was advised. “BTC…

Bitcoin network hash rate hit a new record high amid price volatility

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The hash rate of the Bitcoin (BTC) network hit a new ATH, even when the price of the top cryptocurrency struggled to get past the $40,000 mark. The network’s hash rate hit a new record high of 258 EH/s on Thursday before settling around the 220 EH/s mark.  The recent rise in the BTC network hash rate signifies the growing number of miners on the blockchain. The Bitcoin network hash rate has grown more than 400% since the Chinese crypto mining ban last year when it fell below 70 EH/s. The…

Dogecoin Whale Transactions Reach 3 1/2-Month High

“Musk’s acquisition of Twitter, which has played a key role in crypto discourse and has adopted the asset class, has spurred speculation about possible implications,” crypto derivatives firm FRNT Financial’s daily newsletter dated April 26 said. “For example, a number of DOGE-related profiles have circulated an exchange on Twitter where Musk responded ‘that would be [sick]’ to the suggestion of replacing the social media platform’s blue bird logo ‘to a doge.’” Source

Bitcoin Mining Difficulty Hits a Lifetime High After a 5.56% Increase, Metric Nears 30 Trillion – Mining Bitcoin News

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Jamie Redman Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today. Original

Bitcoin’s Hashrate Surges Reaching a Lifetime High, Difficulty Expected to Jump Next Week – Mining Bitcoin News

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Bitcoin’s hashrate tapped a lifetime high this weekend reaching 271.19 exahash per second (EH/s) on Saturday, April 23 at block height 733,197. Currently, the computational power is coasting along at 233.81 EH/s with a network difficulty change expected three days from now on April 27. Bitcoin’s Hashrate Records an All-Time High, Hashpower Increased 55% Higher Since January The processing power that confirms transactions and secures the Bitcoin (BTC) network has reached an all-time high (ATH) on Saturday, April 23. The hashrate touched 271.19 EH/s, which is approximately 271,190 petahash per…

Regulating Crypto Assets Is High on the Agenda for India – Regulation Bitcoin News

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A director at the International Monetary Fund (IMF) says that crypto regulation is “certainly high on the agenda” for India. “We are trying to come up with global standards for #crypto asset regulations. I think that’s important for India to also adopt,” said the IMF official. IMF on Crypto Regulation in India Tobias Adrian, Financial Counselor and Director of the International Monetary Fund (IMF)’s Monetary and Capital Markets Department, discussed India’s crypto regulation in an interview with PTI Tuesday at the annual spring meeting of the IMF and the World…

Bitcoin Nearly Hits $43K, Trades at 10-Day High

“Bitcoin price action has continued to whipsaw between a wider range of $38 – $47,000 which has thus far remained intact since the beginning of the year,” said Tammy Da Costa, analyst at DailyFX, “Due to the high correlation recently seen between bitcoin and tech stocks, there was a degree of concern about how crypto would react. However, bulls held ground above short-term support at the $40,000 level which now brings the psychological level of $44,000 into play.” Source

XMR Climbs to 6-Month High, TRX up 17% Following News of USDD Stablecoin – Market Updates Bitcoin News

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TRX was up by over 17% on Thursday, as founder H.E. Justin Sun announced that a new stablecoin, USDD, was going to be launched on the TRON blockchain. XMR was another big mover today, climbing to its highest point since November. TRON (TRX) TRX surged today, as founder H.E. Justin Sun of TRON confirmed that a new stablecoin will be launched on the blockchain. In a tweet, Sun stated that, “TRON DAO joined hands with major blockchain players to launch USDD (Decentralized USD), the most decentralized stablecoin in human history.”…

GBTC premium nears 2022 high as SEC faces call to approve Bitcoin ETF ‘people really want’

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Things are looking up for the United States’ largest institutional Bitcoin (BTC) product by asset holdings as pressure mounts on regulators. Data from on-chain monitoring resource Coinglass confirms that as of April 21, the Grayscale Bitcoin Trust (GBTC) is rebounding toward 2022 highs. Grayscale CEO: “‘If’ not ‘when’” for U.S. Bitcoin spot ETF After a problematic year so far, GBTC has benefitted from steadying Bitcoin price action. Bitcoin’s descent from November’s all-time highs added to an already negative “premium” on GBTC, meaning that its share price in fact traded at…

ETH Breaks Resistance to Hit 9-Day High – Market Updates Bitcoin News

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Bitcoin and ETH both rose to nine-day highs on Wednesday, as bulls continued to push prices higher following yesterday’s rebound. BTC moved into the $42,000 level after breaking a key resistance point, while ETH also climbed beyond its own ceiling of $3,150. Bitcoin BTC rose for a third session on Wednesday, as bulls continued to push prices higher, following a selloff during the Easter weekend. The world’s largest cryptocurrency is now up by over $3,000 since Monday’s low of $38,551, and as of writing, is over 3% higher on the…